February 19th, 2009 by Questions

I am considering bankruptcy. I am a university student with debt on my shoulders, currently in my second year of studies and I have two more years to go.
I want to file for personal bankruptcy, but I don`t know how that is going to affect my student loan from OSAP. Currently I don`t have to start payng it back until I have finished school. Thing is I don`t care if I get discharged on my student loan or not. I just need to know that I won`t have to start paying it back before I finish school. And, if I file for bankruptcy now, but need money from OSAP to pay for my 3rd and 4th year, will they give me the money? Thank you.

Posted from: Ontario


One Response to “Studend”

, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:

The best place to ask this question of is the Ontario Student Finance Board, but most student loan departments will continue to grant student loans irrespective of a bankruptcy if you have completed two years of studies and are continuing in the same degree program.

You are also correct to assume that the student loans would all survive a bankruptcy.

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